Lamps & Lighting - Central & Western Europe

Central & Western Europe

In Central & Western Europe, the revenue generated in the Lamps & Lighting market in 2024 amounts to US$19.03bn.
It is projected that the market will experience an annual growth rate of 2.25% (CAGR 2024-2029).
When compared globally, in the United States generates the highest revenue in this segment, reaching US$31,960m in 2024.
In terms of per capita income, in 2024, each person in Central & Western Europe generates revenues of US$56.72.
In Germany, there is a growing demand for energy-efficient LED lamps and lighting fixtures due to the country's focus on sustainability.

Key regions: Brazil, China, Denmark, United Kingdom, Worldwide

Market

Region

Region comparison

Currency

Analyst Opinion

The Lamps & Lighting market in Central & Western Europe is experiencing significant growth and development. Customer preferences are shifting towards energy-efficient and sustainable lighting solutions. LED technology is gaining popularity due to its long lifespan, low energy consumption, and environmental benefits. Additionally, smart lighting systems that can be controlled remotely through mobile devices are becoming increasingly popular among consumers.

Customer preferences: Customers in Central & Western Europe are increasingly concerned about energy efficiency and sustainability. They are looking for lighting solutions that not only provide adequate illumination but also consume less energy and have a minimal impact on the environment. LED technology meets these requirements as it is highly energy-efficient and has a longer lifespan compared to traditional lighting sources. LED lamps are also available in a variety of colors and designs, allowing customers to customize their lighting according to their preferences.

Trends in the market: The Lamps & Lighting market in Central & Western Europe is witnessing a shift towards LED lighting solutions. LED lamps are becoming the preferred choice for both residential and commercial purposes due to their energy efficiency and long lifespan. The market is also seeing a rise in demand for smart lighting systems that can be controlled remotely through mobile devices. These systems offer convenience and flexibility to users, allowing them to adjust the lighting according to their needs and preferences.

Local special circumstances: Central & Western Europe has been at the forefront of energy efficiency and sustainability initiatives. The region has implemented strict regulations and standards to promote the use of energy-efficient lighting solutions. This has created a favorable environment for the growth of the LED lighting market. Additionally, the region has a well-developed infrastructure and high disposable income, which enables consumers to invest in innovative lighting technologies.

Underlying macroeconomic factors: The Lamps & Lighting market in Central & Western Europe is influenced by several macroeconomic factors. The region's stable economic growth and rising disposable income levels have contributed to increased consumer spending on lighting products. Moreover, government initiatives and regulations promoting energy efficiency have further stimulated the demand for energy-efficient lighting solutions. The market is also benefiting from technological advancements and innovations in the lighting industry, which have made LED lamps more affordable and accessible to a wider range of consumers. In conclusion, the Lamps & Lighting market in Central & Western Europe is experiencing growth and development driven by customer preferences for energy-efficient and sustainable lighting solutions. LED technology and smart lighting systems are gaining popularity due to their energy efficiency, long lifespan, and convenience. The region's focus on energy efficiency and sustainability, along with favorable macroeconomic factors, has created a conducive environment for the growth of the market.

Methodology

Data coverage:

Data encompasses B2C enterprises. Figures are based on home furnishings and furniture found in every room of the home. This market is segmented by the room where the furniture is likely to be used and consists of the following: Living Room, Bedroom, Kitchen and Dining room, Bathroom, Outdoor, and Home Office. The Furniture market also includes Lamps and Lighting and Home Decor because the furnishings and accessories within these segments are not specific to any room.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use national statistical offices, international institutions, in-house market research, and resources from the Statista platform. Next we use relevant key market indicators and data from country-specific associations such as consumer spending and GDP. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing is well suited for forecasting the Furniture market with a projected steady growth. The main drivers are furniture and furnishings, carpets and other floor coverings, and consumer spending per capita.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.